The Crypto Industry Was On Its Way to Changing the Carbon-Credit Market, Until It Hit a Major Roadblock

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Crypto entrepreneurs hoped to revolutionize the carbon credit market to fight climate change. They've been met with resistance.

ast year, the startup Toucan launched with a bold vision: it was going to use the blockchain to upend the entire carbon credits system. The traditional voluntary carbon market—in which polluting companies can pay for credits that fund emission-reducing efforts—was disorganized, archaic, and lacked incentives, Toucan’s founders argued.

Now, after several months of deliberation, Verra, the primary carbon credits issuer and a standard-bearer for the industry, has taken a stand against Toucan’s activity. On May 25, Verra announced it wouldinto crypto tokens, which is Toucan’s central mechanism. After just seven months, the first phase of the crypto’s supposed carbon-credit revolution is over.

“Both crypto and carbon are pretty complex and difficult—And when you put them together, it’s like difficulty squared,” says Ollie Gough, strategy lead for the carbon-rating startup Sylvera. “Mistakes have been made—and we’re waiting to see how it pans out.”The voluntary carbon market was developed in the ‘90s as a means by which companies in industries ranging from air travel to banking to oil could, in theory, track and offset their CO2 emissions.

 

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andrewrchow Was it the fact the majority of people don't give a **** about crypto and want it to go away?

andrewrchow Please do research about danger of existence of parnian_sa and jalil's satans infiltration & espionage network what she deactived? Please raise the danger of their existence and the oppression they have done to me in the media. what number victims am I?

andrewrchow 🤣🤣

andrewrchow robertojirusta

andrewrchow Patience is a virtue

andrewrchow dovuofficial

On the day that wood loses value in the market, ecosystems will resume their expected forms 🇧🇷

Absolutely bullshit, the 'crypto industry' was never ever going to be climate-friendly, it is exactly the opposite. I wish you'd stop writing these imbecilic articles.

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